I’m 34 years old and just now learning about how to use real estate to invest, so I’m definitely behind the curve.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Well, you can put your self on the federal opt out list here:   https://www.optoutprescreen.com/This might be great time to do it as if you have purchased any property within 23 or 24 you likely will be in the money to refi already or soon.

If you are burning money each month then the question is really how bad is it for you.

If I/we had started buying investment properties (even 1 a decade) it would greatly have improved our financial wellbeing.Learn from my regret

If you plan on refinancing it in the short/long term, perhaps taking the higher rate and take the $2300 so you can re-allocate the money on your repairs or closing costs for the refinance.

I am newer to the Real Estate Investing community.

Invest first. 

I am from West Virginia and I know a lot the state has economic issues except for a few pockets including Morgantown, WV.I am looking to invest in Morgantown, WV.

Over Renovation will just cost you money for no reason.